IEEMA welcomes ban on duty free import of goods for power projects

The government on Monday imposed ban on duty free import of capital goods for power generation and transmission projects under the Export Promotion Capital Goods Scheme.ETEnergyWorld | February 02, 2016, 20:15 IST

NEW DELHI: The Indian Electrical & Electronics Manufacturers’ Association (IEEMA) has welcomed the government’s decision to ban duty free import of capital goods for power and transmission projects, and said the move will boost the domestic industry.

The government on Monday imposed ban on duty free import of capital goods for power generation and transmission projects under the Export Promotion Capital Goods Scheme.

The decision is seen encouraging domestic power equipment manufacture and boost the country's capital goods sector.

“A long standing demand of IEEMA has been met today which shows the intent and purposefulness of the government. This will help promote ‘Make in India’ and also the Domestic Industry which has been operating at below its installed capacities,” Babu Babel, President IEEMA said.

The move will go a long way in ensuring 24 X7 electricity for all, the statement said.

“These amendments are seen ensuring availability of electricity to consumers at reasonable and competitive rates, improve ease of doing business to ensure financial viability of the sector and attract investments, promote transparency, consistency and predictability in regulatory approaches across jurisdictions,” Sunil Misra, Director General, IEEMA said.